Vodafone is to receive a surprise $3.2bn (£2.1bn) dividend from Verizon
Wireless, the US mobile service provider in which it is being pressed to
sell its 45pc stake.

The UK mobile phone operator said on Tuesday that the Verizon Wireless board had approved the payment of a $7bn (£4.6bn) dividend.

Vodafone, which will receive the payout at the end of June, said it would update shareholders on how it plans to use the money when its reports it full-year results on May 21.

Verizon, which owns the rest of the US mobile operator and will receive a $3.8bn payment, has been pushing to buy Vodafone's Verizon Wireless stake.

The US group has wanted to take full control of the business for years and at the start of May said it would be a “willing purchaser” of the holding. It is reported to have appointed bankers and lawyers to prepare a possible offer.

The dividend is a surprise because Lowell McAdam, Verizon's chief executive, also warned earlier this month of a "lean" year in terms of payout from Verizon Wireless.

"I wouldn't call that lean," said Jonathan Schildkraut, analyst at Evercore, of the $7bn dividend. He said he was surprised by the decision as he read Mr McAdam's previous comments as a sign that he wanted to put pressure on Vodafone to agree a deal.

The Verizon Wireless board decided on the dividend on May 9, according a filing the company made with regulators.

The wireless joint venture has paid its parents $18.5bn in dividends since it ended a five-year freeze on payments in 2011.

There has been speculation of a $100bn offer from Verizon for Vodafone's stake, but analysts analysts at Jeffries say will need to climb much closer to $135bn to be acceptable to Vodafone management and investors.

A deal would hand Vodafone the wherewithall to bolster its fixed-line communications operation, which is targeted at large businesses and has become an increasingly lucrative part of the company.

Analysts also support the timing of Vodafone’s potential exit from the US market, where mounting competition has forced mobile operators to lower their prices.

Any deal would note be without complications. It would trigger a huge tax bill for Vodafone, estimated at between $25bn and $30bn, and would deprive Vodafone of a welcome and frequent dividend from the successful Verizon.

Selling the US business would also leave Vodafone more reliant on its struggling European business.

Verizon has out-performed most of Vodafone’s empire in recent quarters. In its last full-year results, 42pc of Vodafone’s £11.5bn adjusted operating profit came from Verizon Wireless.

Vodafone has made it clear that it is open to discussions, but not at any price. Its chief executive Vittorio Colao said earlier this year: “Religion is good in the church, but not in business. We have to have an open mind.”

Mr Colao will be one of the biggest beneficiaries of the deal, if it does take place. The telecoms chief, whose pay package is worth £14m, stands in line for a share windfall worth around £6m.

His pay package entitles him to collect more than 7m shares in June, worth around £13m. However, Vodafone’s struggles in Europe mean it is unlikely to hit the top end target.

There has been speculation that Verizon could attempt to buy Vodafone in its entirety, instead of just its stake in their joint venture.

However, analysts argue that the US business would be better off ploughing its money into Latin America and the Middle East, where regulation is lighter touch.